Dear Investor and Stakeholder,
After the successful closure of the company’s recent private placement on the 25th of April this year, our work has been centred on;
At La Golondrina, reprocessing of ground magnetic data and induced polarisation geophysics is currently underway and integrated cross sections combining these geophysical techniques with known geology are being prepared. The geophysics will exploit the fact that many of the higher grade gold veins at La Golondrina contain magnetic pyrrhotite and that (chargeable) disseminated pyrite is common in the wall rocks adjacent to quartz veins (particularly in the vein zone areas). These integrated cross sections will greatly assist us in identifying potentially high-grade veins and vein zones in the tonalite rock and gold-bearing quartz stockwork zones in the adjacent hornfels (altered sedimentary rock). Cross sections will be “ground-truthed" and the geophysics calibrated with further surface mapping and surface and underground magnetic susceptibility (and conductivity) measurements before drill holes are then located to intersect these zones.
Before we can commence drilling we require the final approval of La Golondrina’s updated mine PTO (mining works permit) which has already been technically approved but requires ratification. We are hoping to receive this soon and to commence drilling before the end of August.
At La Redencion underground saw-cut channel sampling is almost complete. As we have previously mentioned, the style of gold mineralization at La Redencion is more typical of the “vein-zone” style of mineralization at La Golondrina. We are also seeing more of the hornfels-hosted stockwork style mineralization at La Redencion. It is worth reminding readers that although the Redencion project is just 450m north of La Golondrina, it is 700m vertically below the currently active underground development there.
We have completed a preliminary social baseline and various community consultation exercises ahead of the upcoming drilling program. These initiatives are of course critical path items and are at-least a first step in attaining full social license. In the process we have identified some of the community’s principal concerns, one of-which is water quality. In an effort to address this concern we have adopted what we think is an exciting and innovative solution. Almost every afternoon in the La Golondrina region, mist rises from the valley floors, condenses into cloud, moves eastward and then cascades over saddles and mountain passes into valleys below. At these points we can use new and innovative cloud capture technology to condense and collect clean water onto specialised nets or meshes. On Monday the 16th of May we commissioned our first pilot study in a saddle close to El Boqueron village at the entrance to the La Golondrina project. Representatives of the community of El Boqueron including the school children joined us and participated in the installation and commissioning of the pilot project.
School students will monitor the volume of captured water on a daily basis. We have initially installed a US-35 mesh which we will test for 30 days and we will then change to a US-65 mesh to determine which mesh size gets better performance. We (and the students) will also take water samples to continuously assess water quality. Our sincere hope of course is that this this a “game changer” in terms of water quality in the region. I should add that our girls football (soccer) team are now fitted-out in Royal Road (Camino Real) kit and we hope this is the start of a great sporting future for all of them.
Whilst clearly focussed on achieving success at La Golondrina and La Redencion, Royal Road Minerals is maintaining an eye for opportunities and is actively seeking out value-adding potential deals and projects throughout the America’s.
I cannot sign off without saying how immensely proud I am of the skill and dedication of the Royal Road Minerals team. They consistently exceed expectations.Respectfully Yours, Dr Tim Coughlin, President and CEO
About Royal Road Minerals:
Royal Road Minerals is a gold-focused exploration and development company. The Company's current area of interest is the highly prospective La Llanada gold district of southern Colombia. The Company has an option to earn 100% of the La Golondrina high-grade gold mine and has executed a 3-month exclusivity arrangement over the neighboring La Redencion gold mine.
More information can be found on Royal Road Minerals web site at www.royalroadminerals.com
In Colombia Royal Road Minerals operates through its wholly-owned Colombian companies Minerales Camino Real SAS founded in 2015 and Exploraciones Northern Colombia SAS acquired from previous owners in 2019. In Argentina Royal Road Minerals operates through its wholly owned Argentinian company, Minerales Camino Real Argentina. In Saudi Arabia and Morocco the Company operates through its 50% owned Saudi Arabian registered subsidiary, Royal Road Arabia.